CarGurus, Inc. (NASDAQ:CARG) COO Sells $282,900.00 in Stock

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $28.29, for a total transaction of $282,900.00. Following the sale, the chief operating officer now owns 493,382 shares of the company's stock, valued at approximately $13,957,776.78. This represents a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Samuel Zales also recently made the following trade(s):

• On Wednesday, April 16th, Samuel Zales sold 10,000 shares of CarGurus stock. The shares were sold at an average price of $26.84, for a total transaction of $268,400.00.
• On Monday, March 17th, Samuel Zales sold 10,000 shares of CarGurus stock. The shares were sold at an average price of $30.78, for a total value of $307,800.00.

CarGurus Stock Up 10.8 %

Shares of CARG traded up $3.02 during midday trading on Friday, hitting $30.97. The company's stock had a trading volume of 2,891,465 shares, compared to its average volume of 871,771. CarGurus, Inc. has a one year low of $21.65 and a one year high of $41.33. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 172.07, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. The company's fifty day simple moving average is $28.73 and its two-hundred day simple moving average is $33.73.

CarGurus (NASDAQ:CARG - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.06). The business had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. On average, research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CARG shares. JMP Securities decreased their price objective on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. Oppenheimer dropped their price objective on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. UBS Group boosted their price objective on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Friday. JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. Finally, Needham & Company LLC cut their price target on CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.95.

Hedge Funds Weigh In On CarGurus

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of CarGurus by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company's stock worth $284,909,000 after buying an additional 93,722 shares during the last quarter. Wellington Management Group LLP grew its position in CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock worth $261,091,000 after acquiring an additional 802,602 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in CarGurus by 168.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock worth $55,704,000 after purchasing an additional 957,035 shares in the last quarter. Prevatt Capital Ltd raised its position in CarGurus by 9.8% in the fourth quarter. Prevatt Capital Ltd now owns 1,350,000 shares of the company's stock valued at $49,329,000 after purchasing an additional 120,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CarGurus by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company's stock valued at $39,237,000 after purchasing an additional 30,593 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.